Sanlam Group Risk Products

These products cover life, funeral, disability and critical illness and address the financial needs your employees might face as a result of these events.

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About Group Risk Products

Designed for employers who care about their employees

With us, your employees and their loved ones are protected and cared for in the unfortunate event of a death, disability, or severe illness. Our risk products offer financial protection for employees should any of these events occur. Paired with Retirement Savings, you can offer your employees a comprehensive and holistic benefit package that can be tailored to their needs.

Corporate - Group Life Insurance - Product Range

Group Severe and Critical Illness Insurance products

Severe illness insurance is a vital part of a company’s employee benefit offering, as it fills the gap that disability insurance leaves open. Some employees may not qualify for occupational disability benefits after suffering a severe illness, therefore, their disability insurance might not assist them in these instances. This is where severe illness insurance steps in.

Core Severe Illness Insurance

This insurance pays a non-tiered benefit (i.e., the benefit does not scale down according to the level of severity) at 100% of the insured amount for 10 of the most common severe illnesses. The insurance terminates after a claim is paid, therefore, multiple claims are not possible for the same insured employee.

Severe Illness Insurance: Impact Range

The Impact Range offers a more affordable range of severe illness benefits. These benefits have been designed to consider the true impact of an illness on the employee’s life and finances, and cover a wide range of claim events through tiered benefit payments based on the severity of the illness. Multiple claims are possible for the same insured employee, i.e., the insurance does not terminate after a claim is paid.

Comprehensive Critical Illness Insurance

This product is not impact-based and pays a lump-sum benefit equal to 25% to 100% of the cover amount on the diagnosis of a critical illness claim event. It covers 34 defined critical illness claim events, and multiple claims are possible for certain claim events and unrelated illnesses, i.e., this insurance also does not terminate after a claim is paid.

Group Funeral Insurance products

With Funeral Insurance, your staff can be confident that their families won’t experience the financial burden of unexpected funeral costs.

If an employee, their spouse and/or child passes away, Funeral Insurance pays out a tax-free lump-sum benefit to assist their family with the cost of the funeral and its associated expenses. The benefit is paid within 48 hours after the necessary documentation has been received. If your employee’s service is terminated as a result of ill health (i.e., total occupational disability), the funeral insurance of the employee and his/her qualifying spouse and qualifying children can be retained with further payment of premiums, up to the earlier of the death of the employee or the benefit cessation date.

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To find out more about the products that will help your employees navigate life with confidence, please contact us.

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